Structural reforms at the zero bound

Lukas Vogel

No 537, European Economy - Economic Papers 2008 - 2015 from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

Abstract: This paper uses the European Commission’s QUEST macroeconomic model to analyse the impact of structural reforms on economic activity in an environment in which the zero bound on monetary policy rates is temporarily binding. The simulations suggest that although such reforms can have a negative impact on economic activity in the short run, these effects tend to be small and short-lived when a variety of transmission channels are considered. The results also do not support the idea that postponing structural reforms improves economic conditions, in such and environment.

JEL-codes: E20 E30 E60 F40 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2014-11
New Economics Papers: this item is included in nep-eec and nep-mac
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Citations: View citations in EconPapers (24)

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Related works:
Journal Article: Structural reforms at the zero bound (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:euf:ecopap:0537

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